By: Lyn Y. Tallio
SUGAR SUPPLY. Refined sugar in a supermarket in Bacolod City as shown in this undated photo. On Wednesday (June 26, 2024), the Department of Agriculture (DA) said it plans to import at least 200,000 metric tons of refined sugar in September to ensure a stable market supply and retail price before the local milling season in October. (Photo courtesy of PNA)
In an effort to ensure a stable supply and thus prevent price hikes in the retail market, the Department of Agriculture (DA) bared it is planning to import no less than 200,000 metric tons (MT) of refined sugar in September.
In discussion with the media over dinner Wednesday night, Agriculture Secretary Francisco Tiu Laurel Jr. said the target import intends just to cover the projected gap before the milling season in October.
"By September we should have an arrival, at least 200,000 (metric) tons, refined, for the gap before harvest and refining," he said, adding the DA will finalize its sugar order in the second week of July since current sugar stocks are expected to drop in August.
Laurel stressed the proposed importation underwent consultations with stakeholders.
The DA proposal was backed by United Sugar Producers Federation (UNIFED) President Manuel Lamata.
"This will fill in the shortage before harvest season starts in September. Harvest this coming crop year will be delayed due to El Niño, and when we were consulted about this matter, we approved the proposal," he said.
Earlier, the Sugar Regulatory Administration (SRA) assured close monitoring of the country's buffer stock and market demand trend to prevent a repeat of the August 2022 situation, where refined sugar stocks dropped to 27,000 MT, and retail prices went as high as PHP120 per kilogram.
Prevailing prices of refined sugar in Metro Manila range from PHP74/kg. to PHP92/kg, according to the DA-Bantay Presyo (price watch).
It said the monthly demand for sugar ranges from 180,000 MT to 240,000 MT.
As of June 9, the country has around 436,229 MT of physical sugar stock and 380,835.70 MT of refined sugar stock.
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